IDM Pharma Inc (IDMI) soared over 100% today after it announced its favorable phrase-3 trial of its late-stage trial of its drug for a rare bone cancer reduced risk of death by 30 percent. Volume has picked tremendously yesterday and today. Even with the massive down market today, it is the star of the day. From the look of trading pattern of the stock, it may still have more upsides to it.
The stock has traded between the range of $0.50 to over $10. It is definitely a speculative stock. The company is losing money. Its normal trading volume is only 220K, but today is over 8 million shares traded. If you can tolerate risk and have gambling money for yourself, then it may not be a bad idea to play a small position in it. Once you get another 15 to 20 percent gain, it maybe time to get out.
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